CoinShares has registered three ETFs that track Bitcoin's price movements via the BVX index, which could be listed on the Nasdaq in early June 2026 — a first for the US market.
CoinShares has quietly filed revised filings with the U.S. Securities and Exchange Commission ( SEC ) for three new Exchange Traded Fund ): the CoinShares Bitcoin Volatility ETF, the CoinShares Bitcoin Volatility Leveraged ETF, and the CoinShares Bitcoin Volatility Inverse ETF. This move was first noted by Bloomberg's senior ETF analyst, Eric Balchunas, on X.
Unless there are objections from the SEC, the product suite could begin trading in early June 2026, after the 75-day validity period that began on March 23.
The core difference between this ETF and existing products like ProShares' BITO or Volatility Shares' BITX lies in its tracking mechanism. Instead of tracking Bitcoin price volatility indirectly through Futures Contract, CoinShares' funds will be the first to independently track the CME CF Bitcoin Volatility Index (BVX), an index updated every second by CF Benchmarks that measures implied volatility in the CME Bitcoin options market over the next 30 days.
Essentially, BVX is the Bitcoin equivalent of VIX. At the time of writing, BVX stands at 52, up slightly by 0.3% for the session.
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Because BVX is not an asset that can be directly invested in, the underlying fund CBIX, which is expected to be listed on Nasdaq, will hold a mix of instruments linked to BTC volatility, including volatility Futures Contract , stocks or options of companies with comparable exposure, and Bitcoin volatility-linked swap contracts.
The leveraged variant provides amplified access to BVX volatility, while the inverse variant allows investors to bet against the trend, profiting when Bitcoin volatility decreases. The trading codes for the latter two funds have not been disclosed in the filing, and the management fees have also not been revealed.
To accelerate deployment, CoinShares leveraged the existing legal structure of Valkyrie ETF Trust II instead of establishing a new trust from scratch, a direct legacy from its March 2024 acquisition of Valkyrie Funds LLC, a deal that helped the Jersey-based company establish a foothold in the US market and take over the BRRR spot Bitcoin fund.
According to a knowledgeable source, this ETF aims for a dual objective: to generate profits from Bitcoin's volatility and to Vai as a risk management tool within the portfolio, a segment that the US ETF market currently lacks a product to directly serve.
